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Megatel Homes Expands Wade Settlement Townhome Development with Acquisition of 100 Additional Lots in the Dallas-Fort Worth Metroplex

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Megatel Homes Expands Wade Settlement Townhome Development with Acquisition of 100 Additional Lots in the Dallas-Fort Worth Metroplex

PR Newswire

DALLAS, Aug. 23, 2018 /PRNewswire/ -- Megatel Homes, one of the most successful homebuilders in the state of Texas, has acquired 100 finished lots for development of three- and four-bedroom, three-story townhomes in Wade Settlement, a residential community in the Dallas suburb of Frisco. The 100 lots are in addition to 200 lots the company already has under contract in the community.

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"Frisco is one of the fastest growing and most desirable areas in the Dallas-Fort Worth metroplex, with homes typically priced upwards of $450,000," said Zach Ipour, co-founder of Megatel Homes. "This acquisition aligns perfectly with our affordability strategy and allows us to expand our Wade Settlement development with reasonably priced townhome product at a starting price in the low $300,000s."

The additional lots purchased by Megatel are finished and ready for construction, saving Megatel Homes substantial time and money, thereby increasing the gross home sales potential to more than $100 million.

Located at the intersection of Parkwood Boulevard and Highway 289, 22 of the townhomes have been pre-sold ahead of the opening of the community model home, which is expected to be completed in September 2018. Megatel anticipates that the full Wade Settlement community will be sold out with the next 18 to 24 months.

The lots were purchased from Siena Homes, a competing builder, allowing Megatel Homes to better control the price point of the community and reduce competition in the surrounding area.

About Megatel Homes
Founded in 2006, Megatel Homes has emerged as one of the most successful homebuilders in the state of Texas. The company has had considerable growth, with more than 100 developments comprised of several thousand homes, completed since its founding. The company currently has more than 100 communities and is rapidly spreading throughout the Dallas-Fort Worth metroplex. The Dallas Business Journal recently ranked the company eleventh in North Texas homebuilders based on number of local new home closings in 2016.

Contact:
Lauren Burgos
Spotlight Marketing Communications
949.427.1399
lauren@spotlightmarcom.com

 

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SOURCE Megatel Homes

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